According to reporters, Tianhong ’s first stock fund dedicated to investing in the Vietnamese market, Tianhong ’s Vietnam Stock Equity-Initiated Securities Investment Fund (QDII), was officially approved on December 16. The fund will be a low threshold for domestic investors to participate in Vietnam The market offers great convenience.
Vietnam's population is relatively young, its urbanization rate is gradually increasing, and its domestic consumption potential is large. Driven by export growth and the influx of foreign capital in recent years, Vietnam has sufficient momentum for economic growth and is one of the fastest growing economies in Asia. In 2018, Vietnam's economic growth reached 7.08%, which is second to none in developing countries. According to the CICC report analysis, the current per capita GDP of Vietnam is about 2,564 US dollars, which is only equivalent to China's 2006-2007 level, and its urbanization process, demographic dividend, and opening up are similar to the economic development path since China's reform and opening .
With China's economic success stories ahead, the story of Vietnam's economic boom is worth looking forward to. According to Bloomberg's statistics, the consensus forecast is that Vietnam ’s real GDP will maintain a 6.7% growth in the next two years (as of December 13, 2019). According to official information released by Vietnam, Vietnam ’s GDP has actually increased by 6.98% year-on-year in the first three quarters of 2019.
With the rapid economic development, the Vietnamese stock market also performed strongly. According to Wind data, as the most mainstream index to measure the Vietnamese market, the Ho Chi Minh Index (referred to as the VN index) led the global market with a gain of 48.03% in 2017. As of December 13, the Ho Chi Minh Index has gained 7.72% this year.
At present, instruments for investing in Vietnam in the domestic market are extremely scarce. In order to meet the diversified needs of residents' global asset allocation, Tianhong Fund has fully studied the macroeconomic situation of Vietnam and the prospects of the securities market, and innovatively established the Tianhong Vietnamese Stock Equity Initiative Fund (QDII), which opened up for investors The first special train directly to the Vietnamese market.
It is understood that the fund is an actively managed fund, and the benchmark for performance comparison is the Vietnam VN30 index yield (converted using the valuation exchange rate) * 90% + RMB current deposit interest rate (after tax) * 10%. The Vietnam VN30 Index is composed of 30 stocks with high market value and good liquidity selected from the VNAllshare Index. It covers 90% of the trading volume of the Ho Chi Minh Exchange and 80% of the market value. It represents Vietnam's large-cap stocks. Performance.
Tianhong Vietnam Market Fund is the second QDII product of Tianhong Fund. In recent years, Tianhong Fund has successively launched public offerings such as Tianhong Hong Kong Stock Connect Select, Tianhong Standard & Poor's 500 (QDII-FOF), and in cooperation with outstanding overseas asset management institutions, it has successfully launched several northbound mutual recognition funds. Tianhong Fund said that in the future, it will continue to develop international business, helping mainland investors to more easily carry out overseas asset allocation.